Despite past condemnations, Milei’s administration has embraced the IMF in a bid to stabilize the chronically indebted economy of the third-largest country in Latin America. A $20 Billion LifelineIn April, Argentina and the IMF reached an agreement under the Extended Fund Facility (EFF), securing a four-year loan package worth $20 billion. IMF Praises Milei’s Economic ReformsDespite the controversial nature of Milei’s measures, the IMF has expressed strong support for his administration’s economic management. A new floating exchange rate system was introduced, with the Argentine peso trading within a pre-defined band. Strengthening International ReservesStabilizing the exchange rate and limiting the issuance of new currency have helped keep the dollar price steady in Argentina.